★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS]

[Rent_a_Ray]

New ZeitCoin payments support and services available through https://cointopay.com/

For Merchants and Consumers in a nutshell:
Make- and Receive Online payments
Buy and Sell Coins directly
Support for all cryptocurrencies like BitCoin, Pandacoin, Zeitcoin…
24×7 operational support for customers
Pay out in currency of choice
Free service: T-Zero instant Crypto payment technology

......

Thank you for the information, jommy.

Cheers,
Ray

[1714946702]

1714946702

[1714946702]

1714946702

[1714946702]

1714946702

[1714946702]

1714946702

[FWBlack]

Is there a max blocksize that will stake?

[Rent_a_Ray]

Is there a max blocksize that will stake?

As bigger the block as better. But "no" to your question. There's no limit.
Every block will stake - Bigger blocks are faster, smaller blocks are producing more orphans.
There's no lost.

Cheers,
Ray

[uki]

The good thing about not having big BTC market is that this recent BTC pump is not affecting much the price of ZEIT .

[FWBlack]

Is there a max blocksize that will stake?

As bigger the block as better. But "no" to your question. There's no limit.
Every block will stake - Bigger blocks are faster, smaller blocks are producing more orphans.
There's no lost.

Cheers,
Ray

OK - I was wondering because the "blocks ready to stake" leaf has not turned green since I combined a lot of blocks 9/9/15... I just unlocked for minting and it started minting... odd... running v2.0.1.7

[BitcoinNational]

Zeit = time;

just a sugestion but if ZIET network could become a bellwether for the exact time it might increase value.

[stevegreer]

Zeit = time;

just a sugestion but if ZIET network could become a bellwether for the exact time it might increase value.

You mean like having a clock displayed in the wallet which is linked to that atomic clock?

[atronite]

Zeit = time;

just a sugestion but if ZIET network could become a bellwether for the exact time it might increase value.

You mean like having a clock displayed in the wallet which is linked to that atomic clock?

That's not a bad idea, although you would have to do this for all blocks.

This would let the user know how long they have to wait till they can start staking again.

Separate question tho,

what litoshi price of zeit is equivalent to 1 satoshi?

[kiklo]

what litoshi price of zeit is equivalent to 1 satoshi?

I use
http://www.cryptoconversions.com/converter/btc_usd.html
.00000001 BTC = 3.7866E-6

http://www.cryptoconversions.com/converter/ltc_usd.html
106 Litoshi = 3.776982036E-6 USD

At this moment 106 litoshi is closest to 1 sat .

 

FYI:
Zeit Converter
http://www.cryptoconversions.com/converter/zeit_usd.html

If you don't want to worry about conversion price use any of the following 3 markets ,  
where you can place your orders at 1 satoshi.
https://www.cryptopia.co.nz/Exchange?market=ZEIT_BTC
https://yobit.net/en/trade/ZEIT/BTC
https://www.southxchange.com/Market/Book/ZEIT/BTC

[killerjoegreece]

keep wallet open all the time or not? not enough ram here apparently

[kiklo]

keep wallet open all the time or not? not enough ram here apparently

Wallet Open all of the time :  Your Choice  

Minimum Ram required is 1 gig to run the wallet , if 1 gig of ram is all the system has,
Then only run the wallet when not using other apps, like at night.
Combine your Zeit up to 5 million Zeit per block , as the less blocks you have the less CPU used.

2 gig & 4 gig systems should have no problems.

If you are getting an error message , post it along with Ram and OS version.

 

[uki]

keep wallet open all the time or not? not enough ram here apparently

Wallet Open all of the time :  Your Choice  

Minimum Ram required is 1 gig to run the wallet , if 1 gig of ram is all the system has,
Then only run the wallet when not using other apps, like at night.
Combine your Zeit up to 5 million Zeit per block , as the less blocks you have the less memory & CPU used.

2 gig & 4 gig systems should have no problems.

If you are getting an error message , post it along with Ram and OS version.

 

This is slowly getting unsustainable, to be fully honest.
As the blockchain progresses the wallet eats more and more RAM.
I remember we once discussed about introducing fixed checkpoints. Is this idea still around, or we gave up on it completely?

[kiklo]

keep wallet open all the time or not? not enough ram here apparently

Wallet Open all of the time :  Your Choice  

Minimum Ram required is 1 gig to run the wallet , if 1 gig of ram is all the system has,
Then only run the wallet when not using other apps, like at night.
Combine your Zeit up to 5 million Zeit per block , as the less blocks you have the less memory & CPU used.

2 gig & 4 gig systems should have no problems.

If you are getting an error message , post it along with Ram and OS version.

 

This is slowly getting unsustainable, to be fully honest.
As the blockchain progresses the wallet eats more and more RAM.
I remember we once discussed about introducing fixed checkpoints. Is this idea still around, or we gave up on it completely?

Sorry 1 gig of Ram is hardly unsustainable , considering to run Windows well , you want 4 to 8 gig of ram.
Rent_A_Ray adds new hard coded checkpoints with each release, but that should have no effect on ram requirements.

 

FYI:
We are monitoring different ways to lower memory requirements for the future, but we have a lot of time before any action is required.

[uki]

This is slowly getting unsustainable, to be fully honest.
As the blockchain progresses the wallet eats more and more RAM.
I remember we once discussed about introducing fixed checkpoints. Is this idea still around, or we gave up on it completely?

Sorry 1 gig of Ram is hardly unsustainable , considering to run Windows well , you want 4 to 8 gig of ram.
Rent_A_Ray adds new hard coded checkpoints with each release, but that should have no effect on ram requirements.

 

FYI:
We are monitoring different ways to lower memory requirements for the future, but we have a lot of time before any action is required.

My point is that, for a qt application and comparing with other wallets, 1GB of RAM is a lot of resources.
I understand that this is mainly due to the length of the blockchain - ZEIT has nearly 2 million blocks now, and that is by far the longest blockchain of all wallets I have.
But also by far the most resources consuming.
Let me say this, the wallet application won't be the only one, one wants to run in his/her OS.

[kiklo]

My point is that, for a qt application and comparing with other wallets, 1GB of RAM is a lot of resources.
I understand that this is mainly due to the length of the blockchain - ZEIT has nearly 2 million blocks now, and that is by far the longest blockchain of all wallets I have.
But also by far the most resources consuming.
Let me say this, the wallet application won't be the only one, one wants to run in his/her OS.

Currently ZEIT, MINT, & HoboNickel all need ~1 gig of Ram apiece when running.
Price we all pay for 30 second block times. Sometime in 2016 Zeit will move to a 45 second block time. 
If no other solutions work well, before we need to take action, then a chain swap could clear up the issue for a few years.
Personally waiting to see if anyone gets close to a running Genesis block, that creates a new Genesis block every 2 or 3 years.
(That would be the best solution, but may be years away.)

 

 

[uki]

My point is that, for a qt application and comparing with other wallets, 1GB of RAM is a lot of resources.
I understand that this is mainly due to the length of the blockchain - ZEIT has nearly 2 million blocks now, and that is by far the longest blockchain of all wallets I have.
But also by far the most resources consuming.
Let me say this, the wallet application won't be the only one, one wants to run in his/her OS.

Currently ZEIT, MINT, & HoboNickel all need ~1 gig of Ram apiece when running.
Price we all pay for 30 second block times. Sometime in 2016 Zeit will move to a 45 second block time.  
If no other solutions work well, before we need to take action, then a chain swap could clear up the issue for a few years.
Personally waiting to see if anyone gets close to a running Genesis block, that creates a new Genesis block every 2 or 3 years.
(That would be the best solution, but may be years away.)

 

As long as it is a niche-experiment that is fine.
However, if we want to talk about mass adoption of ZEIT and being any alternative to fiat money, we have to reduce these requirements considerably.
I can't imagine 7 billion people with at least 1GB of RAM memory to do their everyday life, buy groceries for example. Could you?
Also using the argument that we are 'as bad as the other two competitors' is not the most fortunate, in my opinion. The goal should be to be at the other end of the curve, right? Don't understand me wrong, I am trying to bring some constructive criticism in here.

Moreover, it looks to me like the problem of massive blockchain when choosing 30s blocktime has been already seen at the time of designing ZEIT. that is why we have PoS age of 20 days, in order not to have to handle even more data.  

[kiklo]

As long as it is a niche-experiment that is fine.
However, if we want to talk about mass adoption of ZEIT and being any alternative to fiat money, we have to reduce these requirements considerably.
I can't imagine 7 billion people with at least 1GB of RAM memory to do their everyday life, buy groceries for example. Could you?
Also using the argument that we are 'as bad as the other two competitors' is not the most fortunate, in my opinion. The goal should be to be at the other end of the curve, right? Don't understand me wrong, I am trying to bring some constructive criticism in here.

Moreover, it looks to me like the problem of massive blockchain when choosing 30s blocktime has been already seen at the time of designing ZEIT. that is why we have PoS age of 20 days, in order not to have to handle even more data.  

When we hit mass adoption , there will need to be a running Genesis Block, that drops off the old block chain at a timed interval, it is the only permanent solution.
Criticism is fine, but it is already something that is being watched. And the current fix like a chain swap can cause other issues which are just not worth the effort yet.
The comparison was just to show more coins than ZEIT use a gig of ram, and that eventually all coins will have those requirements,  you need to recognize Zeit is still very young, and we have one Amazing Dev Rent_A_Ray, but keyword one , something like a running genesis block will take a team of Devs. Not even BTC has achieved a running genesis block and they have the most devs and funding.
As far , as the 7 billion go , odds are a large majority of them will use online web wallets instead of running it themselves, and those web wallet providers will also provide a type of Zeit card services, so those users can buy groceries by swiping a card.

Moreover, it looks to me like the problem of massive blockchain when choosing 30s blocktime has been already seen at the time of designing ZEIT. that is why we have PoS age of 20 days, in order not to have to handle even more data.
Actually , I think they were unaware of the issue, which is why now you see a lot of new PoS coins with block times 2½ or 5 minutes trying to avoid large blockchains.
But the trade off of their higher block time is a smaller blockchain but a reduced ability to carry transactions once fully used.
Actually the 20 day age is to make sure the rich don't monopolize the minting process and give everyone a fair chance to stake.
Those coins with only a day or 2 age requirement are monopolized by the large stakeholder blocking out the little guy.
And that monopolized by the large stakeholder issue will also be a problem for the larger block times as they have a limited # of chances to stake.

 

[kiklo]

Some other world stuff is coming up.
Probably will be stuck inbetween dimensions until Jan. 2016 .



See you Guys in Jan.

Later,
Kiklo

Before I go ,
FYI :  Peercoin Forked
So don't send or receive peercoins til they fix the bug.
https://github.com/ppcoin/ppcoin/issues/100

[gregofdoom]

kiklo, it can give more details?
What will happen in January? Do not keep us in suspense...

[a_cat_named_joe]

kiklo, it can give more details?
What will happen in January? Do not keep us in suspense...

Shane Kiklo ... come back! ... Kiklo ... Kiklo ... come back! ... Gregofdoom needs you (the suspense is killing him) ... Uki wants you ... come back ... ... Kiklo ... kiklo ... come back ...

Seriously Kiklo, I think I'm speaking for all when I say that we have appreciated the high-level body of work that you have done for Zeit - a tremendous amount of work. Looking forward to seeing you return in January. Good luck with your endeavours.

Secretly, I think you are working on Kiklocoin. If you are, tell me ... I'll be one of your first investors!